Time

The post <a href="https://coinpedia.org/price-analysis/rune-price-warns-a-crash-under-4-96-is-it-time-to-sell/">RUNE Price Warns A Crash Under $4.96, Is It Time To Sell?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Facing a sudden bearish attack this week, the Thorchain token price tumbled multiple points, leading to a streak of red candles. Aligning with the marker-wide correction, the RUNE price approaches the dynamic support in the daily chart. 
Further, the downtrend in the daily chart signals a potential crash for Thorchain if it crashes under this crucial support. Nevertheless, the <a href="https://coinpedia.org/price-prediction/thorchain-rune-price-prediction/">RUNE price prediction</a> highlights a bullish outlook if the market improves sentiments.&nbsp;&nbsp; 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="485" src="https://image.coinpedia.org/wp-content/uploads/2023/12/13145434/RUNEUSD_2023-12-13_13-10-56-1024x485.png" alt="" class="wp-image-253230" srcset="https://image.coinpedia.org/wp-content/uploads/2023/12/13145434/RUNEUSD_2023-12-13_13-10-56-1024x485.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/12/13145434/RUNEUSD_2023-12-13_13-10-56-300x142.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/12/13145434/RUNEUSD_2023-12-13_13-10-56-768x363.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/12/13145434/RUNEUSD_2023-12-13_13-10-56-1536x727.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/12/13145434/RUNEUSD_2023-12-13_13-10-56-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/12/13145434/RUNEUSD_2023-12-13_13-10-56.png 1813w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
Source – <a href="https://www.tradingview.com/x/WFRgJuU8/">Tradingview</a> 
RUNE’s price is testing a pivotal juncture at $4.96, aligning with the 50-day Exponential Moving Average (EMA) and the 38.2% Fibonacci retracement level. This critical support juncture could potentially act as a springboard for the next bullish narrative or mark the onset of a bearish plot twist. 
Currently, the RUNE coin price trades at $5.511 with an intraday fall of 3.57%, projecting a bearish trend in motion with the triple black crow pattern. The RUNE market sentiment seems to tread on thin ice. After a commendable rally, the price grapples with support levels that could dictate the next chapter in Thorchain’s market story. 
The trading volume, a reliable sidekick to price action, appears to be withdrawing into the shadows, hinting at market indecision. This reduction in volume could either be the calm before the storm of a bullish reversal or the quiet retreat before a bearish onslaught. 
The current price structure has investors on the edge of their seats as it hovers above support. The MACD indicator echoes this suspense, displaying a bearish momentum with its line languishing below the signal line. Further, the histogram bars dipped into negative territory, hinting at a potential change in the storyline. 
Technical indicators: 
RSI indicator: Supporting the bullish turnaround, the RSI line takes an about turn to return to the overbought boundary. Therefore, the momentum indicator shows a bullish trend in motion.&nbsp; 
EMA: The ongoing positive trend grows more vital for the 50D and 200D EMA. This reflects a solid underlying demand for RUNE.&nbsp; 
<h2 class="wp-block-heading" id="h-will-rune-price-give-a-bullish-breakout">Will RUNE Price Give A Bullish Breakout?</h2> 
If the price of RUNE can hold at $4.96, it could rally to $6.5. If it breaks below $4.96, it could retest $3.5. The $4.96 support level is significant because it is the rally’s 50% Fibonacci retracement level from $3.5 to $5.5. The $6.5 resistance level is also significant because it is the same rally’s 61.8% Fibonacci retracement level. 
If the market regains a bullish trend, the altcoins will amplify the momentum and lead to a stronger uptrend.

RUNE Price Warns A Crash Under $4.96, Is It Time To Sell?

Table of Contents

CoinPedia News

Other articles published on Dec 13, 2023

Why is FUN Token Price Pumping 85%? Traders Bet on This Major Exchange Listing

OKX DEX Faces Security Breach Resulting in $424,000 Stolen

Kucoin Exits New York Market, Pays $22 Million in Settlement

Whales Reshuffle 84 Mln XRP As Price Dips Below The $0.60 Mark

Financial Giant BlackRock and Others Continue to Discuss Bitcoin ETF Application with the SEC: He...

Binance Announced the Addition of Many Altcoin Trading Pairs to its Futures Trading Platform!

Join our free newsletter for daily crypto updates!